FDG vs. MSTZ

Last updated Aug 2, 2026

FDG (American Century Focused Dynamic Growth ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - FDG is a Large Cap Growth Equities fund actively managed by American Century, while MSTZ is a Inverse Equities fund actively managed by REX. Both are actively managed. Over the past year, FDG returned 14.28% vs 159.07% for MSTZ. Their -0.49 correlation means they have often moved in opposite directions in the past. FDG charges 0.45%/yr vs 1.05%/yr for MSTZ.

Performance

FDG vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Focused Dynamic Growth ETF (FDG) and T-REX 2X Inverse MSTR Daily Target ETF (MSTZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDG achieves a 0.10% return, which is significantly higher than MSTZ's -30.44% return.

FDG

• 1D: 3.17%
• 1M: -3.88%
• 6M: 0.24%
• YTD: 0.10%
• 1Y: 14.28%
• 3Y*: 22.99%
• 5Y*: 8.96%
• 10Y*: —
• ALL TIME*: 21.05%

MSTZ

• 1D: 8.95%
• 1M: 7.38%
• 6M: -24.16%
• YTD: -30.44%
• 1Y: 159.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -86.57%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FDG American Century Focused Dynamic Growth ETF	$1.83M	$1.61M	$2.38M
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	$101.73M	$133.33M	$177.41M

FDG vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FDG American Century Focused Dynamic Growth ETF	0.10%	22.13%	15.89%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-30.44%	-38.95%	-94.43%

Correlation

The correlation between FDG and MSTZ is -0.54, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.54
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	-0.49

The correlation between FDG and MSTZ has been stable across timeframes, ranging from -0.54 to -0.49 - a consistent structural relationship.

Return for Risk

FDG vs. MSTZ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FDG

FDG Risk / Return Rank: 24
FDG Sharpe Ratio Rank: 24
FDG Sortino Ratio Rank: 24
FDG Omega Ratio Rank: 23
FDG Calmar Ratio Rank: 24
FDG Martin Ratio Rank: 26

MSTZ

MSTZ Risk / Return Rank: 61
MSTZ Sharpe Ratio Rank: 58
MSTZ Sortino Ratio Rank: 68
MSTZ Omega Ratio Rank: 68
MSTZ Calmar Ratio Rank: 70
MSTZ Martin Ratio Rank: 42

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FDG vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Focused Dynamic Growth ETF (FDG) and T-REX 2X Inverse MSTR Daily Target ETF (MSTZ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FDG	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	0.55	1.38	-0.83
Sortino ratio: Return per unit of downside risk	0.87	2.22	-1.35
Omega ratio: Gain probability vs. loss probability	1.11	1.28	-0.18
Calmar ratio: Return relative to maximum drawdown	0.71	2.44	-1.73
Martin ratio: Return relative to average drawdown	2.06	4.53	-2.48

FDG vs. MSTZ - Sharpe Ratio Comparison

The current FDG Sharpe Ratio is 0.55, which is lower than the MSTZ Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of FDG and MSTZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FDG vs. MSTZ - Drawdown Comparison

The maximum FDG drawdown since its inception was -43.69%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for FDG and MSTZ.

Drawdown Indicators

	FDG	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-43.69%	-99.38%	+55.69%
Max Drawdown (1Y) Largest decline over 1 year	-15.71%	-84.89%	+69.18%
Max Drawdown (3Y) Largest decline over 3 years	-26.14%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-43.69%	—	—
Current Drawdown Current decline from peak	-9.82%	-97.63%	+87.81%
Average Drawdown Average peak-to-trough decline	-13.27%	-94.63%	+81.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.45%	45.62%	-40.17%

Volatility

FDG vs. MSTZ - Volatility Comparison

The current volatility for American Century Focused Dynamic Growth ETF (FDG) is 7.67%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 37.86%. This indicates that FDG experiences smaller price fluctuations and is considered to be less risky than MSTZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDG	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.67%	37.86%	-30.19%
Volatility (6M) Calculated over the trailing 6-month period	17.13%	134.52%	-117.39%
Volatility (1Y) Calculated over the trailing 1-year period	20.59%	150.23%	-129.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.09%	169.87%	-144.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.99%	169.87%	-144.88%

FDG vs. MSTZ - Expense Ratio Comparison

FDG has a 0.45% expense ratio, which is lower than MSTZ's 1.05% expense ratio.

Dividends

FDG vs. MSTZ - Dividend Comparison

Neither FDG nor MSTZ has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
FDG American Century Focused Dynamic Growth ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDG and MSTZ in my portfolio?

FDG and MSTZ have a correlation of -0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDG or MSTZ?

MSTZ has higher volatility (37.86%) compared to FDG (7.67%). In terms of maximum drawdown, FDG dropped -43.69% vs MSTZ's -99.38%.

Which ETF is better, FDG or MSTZ?

On 1-year performance, MSTZ leads with 159.07% vs 14.28% for FDG. On fees, FDG is cheaper at 0.45% per year. On volatility, FDG has been the lower-risk option at 7.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDG or MSTZ?

Over the 1-year period, MSTZ has performed better with a 159.07% return vs 14.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDG or MSTZ?

FDG is cheaper with a 0.45% expense ratio, compared with 1.05% for MSTZ.

Which ETF pays a higher dividend yield, FDG or MSTZ?

FDG and MSTZ have nearly identical dividend yields, around 0.00%.

What is the main difference between FDG and MSTZ?

FDG is categorized as Large Cap Growth Equities, while MSTZ is Inverse Equities. They also come from different issuers: American Century and REX. Their fees differ too: 0.45% for FDG and 1.05% for MSTZ.

Which has better risk-adjusted returns?

MSTZ currently has the higher Sharpe Ratio (1.38 vs 0.55), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.